SXSW 2021: WeWork Or The Making And Breaking Of A $47 Billion Unicorn

Adam Neumann really, really wanted to be the next Mark Zuckerberg. Or Jesus Christ. I’m not sure which he thought was more attainable, but either way he founded a real estate company and ran it like a tech company, and he was its messianic leader.

Maybe you know about WeWork. Not long ago, it was the next big thing in terms of office space. Aimed at freelancers, entrepreneurs, and start-ups, it wasn’t just a flexible, communal place to work, it was a lifestyle choice. Adam Neumann claimed he wanted to change the world, but first, he’d change the way we work. Charismatic like a cult leader and with an inflated sense of self also like a cult leader, Neumann talked a big game, attracting clients, employees, followers, and crucially, investors. And office space was just the first stop on his quest to dominate the world; next came housing, and education. But as WeWork readied for an IPO, a company that was once valued at an astounding 47 billion dollars went from magical unicorn to bloated corpse in a brisk 6 week death spiral that shocked the heck out of everyone.

What happened? Hulu’s glad you asked, and they can’t wait to tell you all about it.

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